Gensol Engineering bags another BESS project from GUVNL, order book increases to Rs 3,100 crore
The project, including the first and second tranches, will generate a total revenue of Rs 2,685 crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure, it added.
![Gensol Engineering bags another BESS project from GUVNL, order book increases to Rs 3,100 crore](https://cdn.zeebiz.com/sites/default/files/2024/06/20/300426-dealnew.jpg?im=FitAndFill=(1200,900))
Gensol Engineering on Wednesday said it has bagged an additional 250 MW/500 MW Battery Energy Storage System Project (BESS) from GUVNL, taking its order book to Rs 3,100 crore in the segment.
Gujarat Urja Vikas Nigam Limited (GUVNL) had earlier awarded the company a BESS project in a similar capacity.
"It has been allotted the greenshoe option of 250 MW/500 MWh by GUVNL to reach the 500 MW/1000 MWh BESS project. This takes its total BESS order book to over Rs 3,100 crore," Gensol Engineering said in an exchange filing.
"The project will supply electricity on an “On-Demand” basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling Energy Storage Purchase Obligations, and enhancing grid resilience. The project once commissioned at two Gujarat Energy Transmission Corporation (GETCO) substations, will
deliver 500 MW/1000 MWh energy for two charge/discharge cycles per day," the company further said.
The energy storage system of 500 MW/1,000 MW means 500 MW of battery energy can provide power backup for more than an hour, giving a total output of 1,000 MW.
The project, including the first and second tranches, will generate a total revenue of Rs 2,685 crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure, it added.
It will supply electricity on an "On-Demand" basis to Gujarat state's Discoms during peak and off-peak hours, thereby, extending renewable energy availability beyond solar hours, fulfilling Energy Storage Purchase Obligations, and enhancing grid resilience.
The project, once commissioned at two Gujarat Energy Transmission Corporation (GETCO) substations, will deliver 500 MW/1000 MWh energy for two charge/discharge cycles per day.
Gensol Engineering is a leading player in the renewable energy sector, specialising in solar power engineering, procurement and construction (EPC) services, along with electric mobility solutions.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
A good news for those booking tickets online. IRCTC's 'Super App' will be launched soon. What is the specialty of this app? Know complete details in this video
![https://www.zeebiz.com/personal-finance/news-top-small-cap-mutual-funds-with-highest-sip-returns-calculator-calculation-inr-rs-662000-lakh-quant-iti-direct-nippon-india-franklin-bandhan-amfi-value-research-data-298221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/06/26/301621-indian-currency-pixabay-1.jpg?itok=OJMNnqyr)
Top small-cap mutual funds with highest SIP returns: No. 1 fund has given Rs 6.62 lakh on Rs 10,000 monthly SIP
09:49 AM IST